Concord Biotech Limited
Concord Biotech Limited

Rakesh Jhunjhunwala-backed Concord Biotech Ltd files draft papers for IPO

According to the latest reports from the Indian stock market, Ahmedabad-based Biotechnology company, Concord Biotech Limited, has reportedly filed necessary documents with the Securities Exchange Board of India for an initial public offering.

Concord Biotech Limited, founded in 2000 by Sudhir Vaid is in the business of manufacturing biopharmaceutical active pharmaceutical ingredients. What started as a single product manufacturing company currently produces nearly 30 items which are sold all over the world.

Reports suggest that the initial public offering is planned to be conducted by an offer for sale of a maximum of 20.93 million shares or a 20% stake of Helix Investment Holdings Ltd in Concord Biotech Limited.

Helix Investment Holdings Pte Limited is owned and operated by Quadra Capital, a Singapore-based private equity firm which is focused on investing in companies in the healthcare sector.

Quadra Capital invested nearly 475 crore Indian rupees in Concord Biotech Limited, headed by Chief Executive Officer, Ankur Vaid.

Late stock broker, Rakesh Jhunjhunwala, had a stake of 24% in the biotechnology company. Rakesh Jhunjhunwala passed away in the early morning on Sunday due to kidney and diabetes-related health issues.

Promoters of the company, Mr Sudhir Vaid and Mr Ankur Vaid owns 28.84% and 0.56% stake in the company.

The Securities and Exchange Board of India, which is the securities and commodity market regulator in the country, is the regulatory body which gives approval for raising funds through an initial public offering in Indian markets.


In the financial year 2022, the biotechnology company posted revenue of 712.93 crores. Revenue growth in the financial year 2021 was 616.94 crores.

Even though there was an increase in the revenue of Concord Biotech Limited, the company’s net profit decreased from 234.89 crores (FY 21) to 174 .93 crore Indian rupees in the financial year 2022.

Having filed nearly 120+ Drug Master Files in various nations across the world, Concord Biotech Limited is one of the most promising companies in the Indian health care industry. The company takes care of its manufacturing and production phases across three factories in the state of Gujarat.

Factories in Dholka and Limbasi focus on manufacturing active pharmaceutical ingredients, while the factory situated in Valthera focuses on manufacturing formulations for medicinal products.